Finance · Popular

EMI Calculator

Plan any loan with confidence: enter principal, interest, and tenure to see your monthly EMI, total interest, total payment, and a month-by-month amortization schedule.

Loan amount $50,000

$1k$2M

Interest rate 8.0%

0.5%25%

Tenure 120 months

6 mo360 mo

Monthly EMI

$606.64

Principal

$50,000

Interest

$22,797

Total

$72,797

Principal 69%

Interest 31%

Amortization schedule preview

Month	EMI	Principal	Interest	Balance

Method

How this calculator works

The reducing-balance EMI formula assumes interest accrues monthly on the remaining balance. Each instalment is identical, but the principal/interest split changes every month.

EMI = P × r × (1 + r)ⁿ
      ──────────────────
        (1 + r)ⁿ − 1

P = principal
r = annual rate / 12 / 100   (monthly rate)
n = tenure in months

Enter the principal (loan amount), annual interest rate, and tenure in months.
The calculator converts the annual rate into a monthly rate (rate ÷ 12 ÷ 100).
It applies the reducing-balance EMI formula to compute the fixed monthly payment.
Total payment = EMI × number of months. Total interest = total payment − principal.
A month-by-month amortization schedule is built so you can see the principal/interest split.

Examples

Worked examples

Real numbers, end-to-end results.

$50,000 · 8% · 120 months

EMI $606.64 · Interest $22,797

Standard 10-year personal loan profile.

$300,000 · 7% · 360 months

EMI $1,995.91 · Interest $418,527

A typical 30-year mortgage. Notice interest exceeds the principal.

$15,000 · 4.5% · 60 months

EMI $279.62 · Interest $1,777

Short-tenure car loan — interest stays low.

Use cases

When to use it

Plan a home, car, education, or personal loan before signing.
Compare offers from different lenders by changing only the rate or tenure.
See how a slightly shorter tenure reduces total interest dramatically.
Forecast your monthly cash-flow commitment.
Build amortization schedules for accounting or tax purposes.

FAQ

Frequently asked questions

What is EMI?

EMI stands for Equated Monthly Instalment — the fixed amount you repay each month on a loan. Each EMI covers part of the principal and part of the interest, with the split shifting toward principal over time.

How is EMI calculated?

EMI uses the standard reducing-balance formula: P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual ÷ 12 ÷ 100), and n is the tenure in months.

Why do early payments contain mostly interest?

In the reducing-balance method, interest is charged on the outstanding balance. Early in the loan, the balance is large, so most of your EMI services interest. As the balance shrinks, more of each EMI goes toward principal.

What does "total interest" mean?

It is the sum of all interest portions across every EMI. On a $50,000 loan at 8% over 10 years, the total interest comes to roughly $22,800 — almost half the principal again.

Can I see the month-by-month breakdown?

Yes — open the "Amortization schedule preview" panel below the result. The full schedule is computed; we surface key milestones to keep the page fast.